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Strong US sales lift Nokia earnings

Nokia - Gains market share
Nokia - Gains market share

Nokia, the world's biggest mobile phone manufacturer, has reported stronger than expected earnings for the first three months of this year.

The figures include a 21% rise in profits for the first quarter on the back of strong sales, in particular in the US.

Net profit soared to €1 billion, up from €863m in the same period a year earlier, as the company saw sales grow in emerging markets as well as North America and western Europe.

Earnings per share jumped by 32% to 25 cent, higher than the 22 cent forecast by  analysts.

Sales soared by 30% in value from a year ago, to €5.8 billion, and by 40% in volume, to 75.1 million handsets.

The group confirmed that it was winning market  share from its rivals, saying its share had climbed to 35% at  the end of March from 34% at the end of 2005 and 31% at the end of the first quarter last year.